The following are examples of final goods in national income accounting, except:
A. Lumber and steel beams purchased by a construction company
B. Tractor purchased by a construction company
C. Laptop computer purchased by an executive for personal use
D. Desktop computer purchased by an executive for business use
A. Lumber and steel beams purchased by a construction company
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The following are common errors students make when discussing supply and demand. What is the mistake in each?
a. At equilibrium, demand equals supply. b. The quantity of demand is greater than the quantity of supply. c. They move along the line from both ends to an equilibrium in the middle. d. The increase in demand causes an increase in supply.
Assume a nation has a fixed exchange rate, and the central bank decreases the reserve requirement. What is the net effect on the money supply (given)? Answer assuming all the adjustments have worked their way through the macroeconomic system, and it is in equilibrium
a. The change in the money supply is ambiguous. b. The money supply can not change. This is an example of the "Impossible Trilogy." c. The money supply rises. d. The money supply falls.